Financial Accounting (FI) Flashcards
6 cards from real BCSE ERP practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 6 Financial Accounting (FI) flashcards as text
What is 'parallel accounting' in SAP FI?
Answer: Maintaining multiple sets of books under different accounting standards (e.g., US GAAP and IFRS)
Parallel accounting in SAP FI allows companies to maintain multiple ledgers under different accounting principles simultaneously, such as local GAAP and IFRS.
Which SAP FI transaction is used to display a vendor account balance?
Answer: FK10N
Transaction FK10N displays the account balance and line items for a specific vendor (creditor) in SAP Accounts Payable.
What does the SAP transaction F110 perform?
Answer: Runs the automatic payment program to process outgoing payments
Transaction F110 runs the Automatic Payment Program in SAP FI-AP, which selects due invoices and processes outgoing payments to vendors.
In SAP Asset Accounting, what is 'depreciation area'?
Answer: A valuation view that calculates depreciation according to a specific set of rules or accounting standard
A depreciation area in FI-AA represents a specific valuation view (e.g., book depreciation, tax depreciation) with its own depreciation method and useful life.
What is the purpose of the SAP 'closing cockpit'?
Answer: To manage and schedule period-end and year-end closing activities
The SAP Closing Cockpit provides a centralized tool to schedule, execute, and monitor all period-end and year-end financial closing tasks in a structured workflow.
Which document in SAP FI is used to reverse an incorrectly posted financial document?
Answer: Reversal document
A reversal document in SAP FI corrects an incorrectly posted document by creating an equal and opposite entry, effectively canceling the original posting.